Giorgio Armani leaves behind $10 billion empire—Who inherits it?

Giorgio Armani, the iconic Italian designer who turned the concept of understated elegance into a multibillion-dollar fashion empire, died Thursday, his fashion house confirmed. He was 91.

Armani died at home, “peacefully, surrounded by his loved ones,” the fashion house said. “Indefatigable to the end, he worked until his final days, dedicating himself to the company, the collections and the many ongoing and future projects.”

Tributes pour in for fashion legend

"We, the employees and the family members, who have always worked alongside Mr. Armani, commit to protecting what he built and to carrying his company forward in his memory, with respect, responsibility, and love," it added.

The designer had been unwell for some time and was forced to drop out of his group's shows at Milan's Men's Fashion Week in June, the first time he had missed one of his catwalk events. Actress Julia Roberts, who famously wore an Armani men's suit for the 1990 Golden Globes, posted a picture of herself with the designer on Instagram with a broken heart emoji. "A true friend. A legend," she wrote.

Armani, one of the most recognisable names and faces in the global fashion industry, missed Milan Fashion Week in June 2025 for the first time during the previews of Spring-Summer 2026 menswear to recover from an undisclosed condition.

Armani: Building an empire of elegance

Armani remained the sole owner of his company and worked with a tight-knit group of long-time colleagues and members of his family.

Starting with an unlined jacket, a simple pair of pants and an urban palette, Armani put Italian ready-to-wear style on the international fashion map in the late 1970s, creating an instantly recognizable relaxed silhouette that has propelled the fashion house for half a century.

From the executive office to the Hollywood screen, Armani dressed the rich and famous in classic tailored styles, fashioned in supersoft fabrics and muted tones. His handsome black tie outfits and glittering evening gowns often stole the show on award season red carpets.

Armani’s $10 billion empire and global reach

At the time of his death, Armani had put together an empire worth over $10 billion, which along with clothing included accessories, home furnishings, perfumes, cosmetics, books, flowers and even chocolates, ranking him in the world’s top 200 billionaires, according to foreign media reports quoting Forbes.

Who will inherit Armani’s massive fortune?

Giorgio Armani's net worth was at $12.1 billion, foreign media reported, citing Forbes data. The 91-year-old was one of the world's top 200 billionaires. His fortune included clothing, accessories, home furnishings, perfumes, cosmetics, books, flowers and even chocolate brands.

Armani had already laid out his succession plan. In August, he told foreign media that he wanted his successors to include his collaborators and family. The 91-year-old was not married and never had children. He had a younger sister, Rosanna, two nieces, Silvana and Roberta, and a nephew, Andrea Camerana--all of whom hold senior positions in the fashion brand.

“My plans for succession consist of a gradual transition of the responsibilities that I have always handled to those closest to me,” Armani had said. He indicated that Pantaleo Leo Dell'Orco is his likely successor.

“I would like the succession to be organic and not a moment of rupture,” the fashion icon added. “My greatest weakness is that I am in control of everything.”